RiverNorth Closed-End Funds Declare Monthly Distributions | National company

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CHICAGO – (BUSINESS WIRE) – October 1, 2021–

Several RiverNorth closed-end funds (the “Funds”) have announced the declaration of monthly distributions for October, November and December 2021 in accordance with each Fund’s level distribution policy, as detailed below.

Date of departure

Registration Date

Payment date

October 14, 2021

October 15, 2021

October 29, 2021

November 10, 2021

November 12, 2021

November 30, 2021

December 15, 2021

December 16, 2021

December 31, 2021

Tax-exempt distributions1

Fund name

Teleprinter

Distribution
Per share

Switch
From the prior
Distribution

Net assets
Value (NAV)
from
09/30/2021

annualized
Running
Distribution
Rate at net asset value

Market price
from
09/30/2021

annualized
Running
Distribution
Rate at
Marlet

RiverNorth Opportunistic Municipal Income Fund, Inc. 1,2

MRI

$ 0.0917

??

$ 23.74

4.64%

$ 23.12

4.76%

RiverNorth Managed Duration Municipal Income Fund, Inc. 1.3

RMM

$ 0.0917

??

$ 20.07

5.48%

$ 19.85

5.54%

RiverNorth Flexible Municipal Income Fund, Inc. 1.4

RFM

$ 0.1042

??

$ 24.10

5.19%

$ 23.41

5.34%

RiverNorth Flexible Municipal Income Fund II, Inc. 1.5

RFMZ

$ 0.1000

??

$ 20.11

5.97%

$ 20.26

5.92%

Taxable distributions

Fund name

Teleprinter

Distribution
Per share

Switch
From the prior
Distribution

Net assets
Value (NAV)
from
09/30/2021

annualized
Running
Distribution
Rate at net asset value

Market price
from
09/30/2021

annualized
Running
Distribution
Rate at
Marlet

RiverNorth / DoubleLine Strategic Opportunity Fund, Inc. 6

PPO

$ 0.1586

??

$ 14.81

12.85%

$ 14.57

13.06%

RiverNorth Specialty Finance Corporation 7

RSF

$ 0.1523

??

$ 20.09

9.10%

$ 19.20

9.52%

RMI, RMM, RFM, RFMZ, OPP and RSF are closed funds.

1

Monthly distributions from RMI, RMM, RFM and RFMZ are generally expected to be exempt from ordinary US federal income tax, however, a portion of the distributions from these Funds may (i) be subject to US federal income tax , (ii) be included in income for federal alternative minimum tax purposes, or (iii) constitute a return of capital. Such distributions will also generally be subject to state and local taxes. RiverNorth does not provide tax advice; consult a professional tax advisor about your particular tax situation.

2

In accordance with its level distribution policy, RMI’s annual distribution rate has been set at 5.50% of the Fund’s initial public offering price of $ 20.00 per share.

3

In accordance with its level distribution policy, RMM’s annual distribution rate has been set at 5.50% of the Fund’s initial public offering price of $ 20.00 per share.

4

In accordance with its level distribution policy, RFM’s annual distribution rate has been set at 6.25% of the Fund’s IPO price of $ 20.00 per share.

5

In accordance with its level distribution policy, RFMZ’s annual distribution rate has been set at 6.00% of the Fund’s IPO price of $ 20.00 per share.

6

In accordance with its level distribution policy, OPP’s annual distribution rate has been set at 12.50% of the average net asset value of the Fund per common share reported on the last five trading days of the preceding calendar year.

7

In accordance with its level distribution policy, RSF’s annual distribution rate has been set at 10.00% of the average net asset value of the Fund per common share published on the last five trading days of the preceding calendar year.

With each distribution which does not consist solely of net investment income, the respective Fund will issue a notice to shareholders and an accompanying press release which will provide detailed information regarding the amount and composition of the distribution and other related information. The amounts and sources of distributions shown in the Notice to Shareholders are estimates only and are not provided for tax reporting purposes. The actual amounts and the sources of the amounts for tax reporting purposes will depend on the Fund’s investment experience during its full financial year and may be subject to change depending on tax regulations. Each Fund will send shareholders a Form 1099-DIV for the calendar year which will tell them how to report these distributions for federal income tax purposes.

Each Fund may sometimes distribute more than its net investment income and net realized capital gains; therefore, part of the distribution may give rise to a return of capital. A return of capital occurs when some or all of the money shareholders have invested in the Fund is returned to them. A return of capital does not necessarily reflect the performance of the Fund’s investments and should not be confused with “return” or “income”. Such returns of capital will reduce the total assets of the Fund and, therefore, may have the effect of increasing the expense ratio of the Fund. In addition, in order to achieve the level of distributions expected under its plan, the Fund may have to sell its portfolio securities at a less than desirable time.

About RiverNorth

RiverNorth Capital Management, LLC is an investment management firm founded in 2000. With $ 5.5 billion 8 in assets under management as of August 31, 2021, RiverNorth specializes in opportunistic investment strategies in niche markets. where the potential for exploiting inefficiencies is greatest. RiverNorth is an institutional investment manager for registered funds, private funds and separately managed accounts.

8

Company assets under management reflect assets under management which include leverage and investments in affiliated funds.

Investing in the Funds involves risks, including loss of capital.

Chris Lakumb is a registered representative of ALPS Distributors, Inc. RiverNorth Capital Management, LLC is not affiliated with DoubleLine Capital LP or ALPS Distributors, Inc.

Investors should carefully consider the investment objective, risks, charges and expenses of a Fund before investing. The prospectus of each Fund and the most recent periodic reports contain this and other important information about the relevant Fund and can be obtained by visiting rivernorth.com/literature or by calling your financial advisor or RiverNorth at 844.569.4750.

Not insured by FDIC | may lose value | No bank guarantee

ALPS Distributors, Inc. is the member company of FINRA.

RiverNorth® is a registered trademark of RiverNorth Capital Management, LLC.

DoubleLine® is a registered trademark of DoubleLine Capital LP.

© 2000-2021 RiverNorth Capital Management, LLC. All rights reserved.

RMI000214

See the source version on businesswire.com: https://www.businesswire.com/news/home/20211001005700/en/

CONTACT: Investor contact

Chris Lakumb, CFA, CAIA

312.445.2336

[email protected]

KEYWORD: UNITED STATES NORTH AMERICA ILLINOIS

INDUSTRY KEYWORD: FINANCING OF PROFESSIONAL BANKING SERVICES

SOURCE: RiverNorth Capital Management, LLC

Copyright Business Wire 2021.

PUB: 01/10/2021 16:30 / DISC: 01/10/2021 16:32

http://www.businesswire.com/news/home/20211001005700/en

Copyright Business Wire 2021.


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